The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
US legal consultancy Hildebrandt has warned its 5,000 clients to expect a fall in growth in the coming year due to fluctuating international and US markets and a slowdown in the US economy.
The firm sent out a "client advisory" bulletin last week, saying it had reduced its estimate for net income growth for well-managed firms from between 10 and 11 per cent to between 5 and 8 per cent.
The bulletin adds that M&A lawyers report transactions being postponed or cancelled while banks are tightening lending criteria, bringing worldwide project finance work "close to a standstill".
"This combination of circumstances is causing some firms to experience the first signs of lawyer workload reduction," it said.
Paul Mickey, managing partner of 300-lawyer Washington firm Shaw Pittman Potts & Trowbridge, said he anticipated a slowdown in 1999, although he believed IT outsourcing work - the firm's specialisation - would increase.
Mickey said he believed firms would not over-react: "They have got a lot better at business management, and are much better at controlling costs, which means they can cope with downturns without imposing a hiring freeze."